Skip to main content
February 6, 2021
Solved

I have a payment arrangement for 2020 property tax on the home I own. The payments are to be complete by June 2021. Do I still claim the 2020 home taxes on this return?

  • February 6, 2021
  • 1 reply
  • 0 views
No text available
Best answer by ToddL99

No, do not claim a deduction for property taxes that you haven't paid yet. Deduct property tax payments in the year that you make them.

 

Individuals such as yourself are cash-basis taxpayers; you only report income you have actually received and can only deduct expenses that you have actually paid.

1 reply

ToddL99Answer
February 6, 2021

No, do not claim a deduction for property taxes that you haven't paid yet. Deduct property tax payments in the year that you make them.

 

Individuals such as yourself are cash-basis taxpayers; you only report income you have actually received and can only deduct expenses that you have actually paid.